Binance Expands Trading Options with Listing of BOOK OF MEME and Launch of BOME Perpetual Contracts
Jessie A Ellis Mar 16, 2024 15:23
Binance announces the listing of BOOK OF MEME (BOME) on its spot trading platform and the launch of BOME perpetual contracts with up to 50x leverage.
Binance, the world's leading cryptocurrency exchange, has just announced the introduction of BOOK OF MEME (BOME) to its extensive list of tradable digital assets. The exchange will also be launching USDⓈ-M BOME Perpetual Contracts, offering leverage of up to 50x, further diversifying the options available to traders on its platform.
As of March 16, 2024, traders can engage with BOME on Binance's spot trading market. The pairs available for trading include BOME/BTC, BOME/USDT, BOME/FDUSD, and BOME/TRY, with deposits already open in preparation for trading activity. Withdrawals for BOME are scheduled to commence on March 17, 2024, at 12:30 (UTC).
Notably, Binance has introduced the BOME listing without charging a listing fee, and the token operates on the Solana blockchain network. However, Binance cautions traders that BOME is a relatively new and experimental memecoin that could be prone to high price volatility and recommends thorough research and risk management before trading.
In addition to the spot market listing, Binance Futures will expand its offerings with the launch of the USDⓈ-M BOME Perpetual Contract. Scheduled to go live on March 16, 2024, at 12:30 (UTC), this new contract will feature a tick size of 0.000001, a capped funding rate of ±2.00%, and a funding fee settlement frequency every four hours. The maximum leverage available for traders will be 50x, and the contract will support Multi-Assets Mode, allowing for margin assets such as BTC.
The exchange emphasizes that the maximum funding rate and fee settlement frequency are subject to change based on market conditions, and Binance reserves the right to adjust contract specifications to manage risk adequately.
Binance has established itself as a major player in the cryptocurrency market, continuously offering new products and services to meet the ever-evolving demands of traders. The listing of BOME and the introduction of its perpetual contracts underscore Binance's commitment to providing a diverse range of trading options for its users.
With these latest additions, Binance reinforces its position at the forefront of the cryptocurrency industry, championing innovation and accessibility. Traders interested in BOME and its perpetual contracts are encouraged to review the Binance Terms of Use and the Binance Futures Service Agreement, as well as to conduct their own due diligence, acknowledging the inherent risks associated with digital asset trading.
As the crypto landscape continues to grow and diversify, Binance's adaptability and expansion of services are set to attract both seasoned and new traders looking for varied investment opportunities in the market.
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